Total Asset Turnover
since 2005
Calculation
Express Scripts Holding Co., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2017 | 1.84 | = | 100,064,600) | ÷ | 54,255,800) |
| Dec 31, 2016 | 1.94 | = | 100,287,500) | ÷ | 51,744,900) |
| Dec 31, 2015 | 1.91 | = | 101,751,800) | ÷ | 53,243,300) |
| Dec 31, 2014 | 1.88 | = | 100,887,100) | ÷ | 53,798,900) |
| Dec 31, 2013 | 1.94 | = | 104,098,800) | ÷ | 53,548,200) |
| Dec 31, 2012 | 1.62 | = | 93,858,100) | ÷ | 58,111,200) |
| Dec 31, 2011 | 2.96 | = | 46,128,300) | ÷ | 15,607,000) |
| Dec 31, 2010 | 4.26 | = | 44,973,200) | ÷ | 10,557,800) |
| Dec 31, 2009 | 2.07 | = | 24,748,900) | ÷ | 11,931,200) |
| Dec 31, 2008 | 3.99 | = | 21,978,000) | ÷ | 5,509,200) |
| Dec 31, 2007 | 3.48 | = | 18,273,600) | ÷ | 5,256,400) |
| Dec 31, 2006 | 3.46 | = | 17,660,000) | ÷ | 5,108,100) |
| Dec 31, 2005 | 2.96 | = | 16,266,000) | ÷ | 5,493,000) |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial trajectory from 2005 to 2017 is characterized by a significant expansion in both revenue and the asset base, resulting in three distinct phases of asset utilization efficiency.
- Efficiency Growth Phase (2005–2008)
- During this period, total asset turnover exhibited a consistent upward trend, increasing from 2.96 in 2005 to 3.99 in 2008. This growth was driven by steady revenue increases while the total asset base remained relatively stable, indicating an improvement in the ability to generate sales from existing assets.
- Volatility and Peak Utilization (2009–2011)
- A period of significant fluctuation occurred between 2009 and 2011. A sharp decline to 2.07 in 2009 coincided with a near doubling of total assets. This was followed by a peak in 2010, where the turnover ratio reached its highest observed level of 4.26, driven by a substantial surge in revenues. By 2011, the ratio moderated to 2.96 as assets continued to expand.
- Structural Realignment and Stabilization (2012–2017)
- A fundamental shift in the balance sheet occurred in 2012, marked by a dramatic increase in total assets from approximately 15.6 billion to 58.1 billion. This expansion resulted in a sharp reduction of the total asset turnover ratio to 1.62. From 2013 through 2017, the ratio stabilized within a narrow range between 1.84 and 1.94. This suggests that the organization reached a new operational equilibrium where revenue growth stabilized at approximately 100 billion, moving in tandem with a significantly larger and more permanent asset base.
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Comparison to Competitors
Express Scripts Holding Co., total asset turnover, long-term trends, comparison to competitors
| Express Scripts Holding Co. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2017 | 1.84 | 0.36 | 1.26 | 0.54 | 0.30 | 1.44 |
| Dec 31, 2016 | 1.94 | 0.40 | 1.29 | 0.42 | 0.29 | 1.50 |
| Dec 31, 2015 | 1.91 | 0.49 | 1.27 | 0.49 | 0.19 | 1.40 |
| Dec 31, 2014 | 1.88 | 0.49 | 1.18 | 0.54 | 0.45 | 1.50 |
| Dec 31, 2013 | 1.94 | 0.51 | 1.18 | 0.57 | 0.48 | 1.49 |
| Dec 31, 2012 | 1.62 | 0.59 | 1.03 | 0.54 | 0.49 | 1.36 |
| Dec 31, 2011 | 2.96 | 0.64 | 1.15 | 0.57 | 0.52 | 1.49 |
| Dec 31, 2010 | 4.26 | 0.59 | 1.15 | 0.59 | 0.56 | 1.48 |
| Dec 31, 2009 | 2.07 | 0.59 | 1.17 | 0.58 | 0.62 | 1.47 |
| Dec 31, 2008 | 3.99 | 0.70 | 1.27 | 0.59 | 0.61 | 1.44 |
| Dec 31, 2007 | 3.48 | 0.65 | 1.15 | 0.58 | 0.63 | 1.46 |
| Dec 31, 2006 | 3.46 | 0.62 | 1.08 | 0.55 | 0.57 | 1.46 |
| Dec 31, 2005 | 2.96 | 0.77 | 0.87 | 0.45 | 0.61 | 1.08 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Express Scripts Holding Co., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Express Scripts Holding Co. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2017 | 1.84 | 0.89 |
| Dec 31, 2016 | 1.94 | 0.92 |
| Dec 31, 2015 | 1.91 | 0.85 |
| Dec 31, 2014 | 1.88 | 1.05 |
| Dec 31, 2013 | 1.94 | 1.04 |
| Dec 31, 2012 | 1.62 | 0.94 |
| Dec 31, 2011 | 2.96 | 1.02 |
| Dec 31, 2010 | 4.26 | 1.00 |
| Dec 31, 2009 | 2.07 | 1.03 |
| Dec 31, 2008 | 3.99 | 1.09 |
| Dec 31, 2007 | 3.48 | 1.06 |
| Dec 31, 2006 | 3.46 | 1.03 |
| Dec 31, 2005 | 2.96 | 0.88 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Express Scripts Holding Co., total asset turnover, long-term trends, comparison to industry (health care)
| Express Scripts Holding Co. | Health Care | |
|---|---|---|
| Dec 31, 2017 | 1.84 | 0.56 |
| Dec 31, 2016 | 1.94 | 0.57 |
| Dec 31, 2015 | 1.91 | 0.55 |
| Dec 31, 2014 | 1.88 | 0.60 |
| Dec 31, 2013 | 1.94 | 0.58 |
| Dec 31, 2012 | 1.62 | 0.58 |
| Dec 31, 2011 | 2.96 | 0.61 |
| Dec 31, 2010 | 4.26 | 0.61 |
| Dec 31, 2009 | 2.07 | 0.55 |
| Dec 31, 2008 | 3.99 | 0.73 |
| Dec 31, 2007 | 3.48 | 0.71 |
| Dec 31, 2006 | 3.46 | 0.69 |
| Dec 31, 2005 | 2.96 | 0.66 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).